Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
Capital Securities
All Capital Securities are perpetual and have no expiry date.
The discretionary on Capital Securities per issue is as follows:
Capital securities issued by Rabobank
Issue of EUR 1,250 million
The coupon is 6.625% per year and is made payable every six
months in arrears as of the issue date (26 April 2016), forthe
first time on 29 June 2016.The Capital Securities are perpetual
and first redeemable on 29 June 2021As of 29 June 2021,
and subject to Capital Securities not being redeemed early,
the distribution is set for a further five-year period, but without
a step-up, based on the 5-year euro swap rate 6.697%.
The coupon is fully discretionary.
Issue of EUR 1,500 million
The coupon is 5.5% per year and is made payable every six
months in arrears as of the issue date (22 January 2015),
forthe first time on 29 June 2015. The Capital Securities are
perpetual and first redeemable on 29 June 2020. As of 29 July
2020, and subject to Capital Securities not being redeemed
early, the distribution is set for a further five-year period, but
without a step-up, based on the 5-year euro swap rate 5.25%.
The coupon is fully discretionary.
Issue of EUR 500 million
The coupon is 9.94% per year and is made payable annually
in arrears as of the issue date (27 February 2009), forthe first
time on 27 February 2010. As of 27 February 2019, the coupon
will be made payable every quarter based on the three-month
Euribor plus an annual 7.50% mark-up.The coupon is payable
at the issuer's discretion. In case Rabobank does not use its
discretionary power to not pay distributions on the Rabobank
Certificates, payment on this instrument will also apply.
Issue of USD 2,868 million
The coupon is 11.0% per year and is made payable every six
months in arrears as of the issue date (4 June 2009), forthe first
time on 31 December 2009. As of 30 June 2019, the coupon will
be made payable every quarter based on the three-month USD
Libor plus an annual 10.868% mark-up.The coupon is payable
at the issuer's discretion. In case Rabobank does not use its
discretionary power to not pay distributions on the Rabobank
Certificates, payment on this instrument will also apply.
Issue of GBP 250 million
The coupon is 6.567% per year and is made payable every six
months in arrears as of the issue date (10 June 2008), for the first
time on 10 December 2008. As of 10 June 2038, the coupon will
be made payable every six months based on the six-month GBP
Libor plus an annual 2.825% mark-up.The coupon is payable
at the issuer's discretion. In case Rabobank does not use its
discretionary power to not pay distributions on the Rabobank
Certificates, payment on this instrument will also apply.
Issue of CHF 350 million
The coupon is 5.50% per year and is made payable annually in
arrears as of the issue date (27 June 2008), for the first time on
27 June 2009. As of 27 June 2018, the coupon will be made
payable every six months on 27 June and 27 December based
on the six-month CFIF Libor plus an annual 2.80% mark-up.
The coupon is payable at the issuer's discretion. In case
Rabobank does not use its discretionary power to not pay
distributions on the Rabobank Certificates, payment on this
instrument will also apply.
Issue oflLS 323 million
The coupon is 4.15% per year and is made payable annually
in arrears as of the issue date (14 July 2008), for the first time
on 14 July 2009. As of 14 July 2018, the coupon will be made
payable annually based on an index related to the interest rate
paid on Israeli government bonds with terms between 4.5 and
5.5 years plus an annual 2.0% mark-up.The coupon is payable
at the issuer's discretion. In case Rabobank does not use its
discretionary power to not pay distributions on the Rabobank
Certificates, payment on this instrument will also apply.
Capital securities issued by Rabobank which were
redeemed during the year
Issue of USD 2,000 million
Rabobank issued the USD 2,000 million Capital Securities on
9 November 2011In accordance with theTerms and Conditions
of these Capital Securities, Rabobank has redeemed the Capital
Securities on the first call date, namely 29 June 2017.
Issue ofNZD 900 million
Rabobank issued the NZD Capital Securities on 8 October 2007.
In accordance with theTerms and Conditions ofthese Capital
Securities, Rabobank has redeemed the Capital Securities on
the first call date, namely 8 October 2017.
The level of profit made by Rabobank may influence the
distribution on the Capital Securities. Should Rabobank become
insolvent, the Capital Securities are subordinate to the rights
of all other (current and future) creditors of Rabobank, unless
the rights of those other creditors are substantively determined
otherwise.
Rabobank Annual Report 2017 - Consolidated financial statements
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